The S&P 500 (SPX) closed at another new high last week, driven by the power of Technology (XLK), and a strong showing from Consumer Discretionary (XLY) names. The AI buildout has shifted into high gear, and Wall Street has been caught flat-footed.

April Showered Semiconductor Investors with Riches

The one-month gains of semiconductor stocks are mind-boggling, and it's hard to argue these names won’t be higher a year from now.

These are not the glamorous Technology names or the semiconductors that have been the locomotives of the tech rally.  It’s a refreshing change, but there are levels beneath the names below that seem poised for miraculous rallies as well.

Growth and momentum keep rocking, and the safe haven of low volatility keeps sinking.

Earnings Into Overdrive

This week is the biggest of the earnings season. Investors are going to learn a lot, although the lingering Iran Conflict could lead many C-suite folks to offer overly cautious outlooks.

Earnings revisions have surged, lending credence to the current market excitement and attracting money off the sidelines.

All Eyes on Mag Seven

Four “Mag Seven” names report Wednesday after the close, and Apple (AAPL) reports on Thursday evening.

We begin the week knowing America averted tragedy again, and we have to thank law enforcement, which continues to be tested, yet stands tall.

Today’s Session

There has been a lot of chatter about a new “Mag Seven”, including Micron (MU), SanDisk (SNDK), Western Digital (WDC), and Seagate (STX).

They are all acting better than Mag Seven names ahead of the earnings release this week.  Lots of palace intrigue with lawsuits between Altman and Musk, and news this morning that OpenAI and Microsoft have amended their deal.

For the most part, there is a fair amount of profit-taking among stocks that have been sizzling.

There is no panic, but there is anxiety in the air with so much at stake.

Watching semiconductor (SOXX) stocks march higher and seeing if the software (IGV) bounce can attract more buyers.

Comments

Does anyone else see a parallel to the assassination of Abe Lincoln in Ford's Theater by a guy who rushed the president's balcony booth? Only this time, he was stopped short. T in Tx tim luber on 4/27/2026 10:49:25 AM

I had been wondering why Pantir was not performing. I read that a group of investors are threatening sale of $1B+ of PLTR if PLTR continues to support stopping of illegals’ invasion. I wonder what tbe street thinks of this and hope this intimidation doesn’t proliferate. James Carter on 4/27/2026 5:59:33 PM

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